NJ Transit Sees an Increase in Ridership
This Asbury Park Press article describes the increase in ridership on NJ Transit Trains and Busses because of the increase in the cost of gas The Route 9 corridor is especially busy and NJT has had to add capacity. The towns in Monmouth and Ocean counties that Route 9 runs through have probably seen the most development over the past 10 years and I can imagine that the drive from Howell to NYC and back each day is getting pretty expensive compared to the bus.
Maybe the housing bubble begins with cheap gas and ends with expensive gas. I can imagine that buying in an outlying area like Manchester or Brick and commuting to NYC every day made economic sense in 2002 or 2003 when gas was cheap. Maybe, too, as these places attracted more people who made the long commute to NYC each day, demand for gas grew each year and supplies fell, resulting in the higher prices we have today. The high gas prices now make living in outlying suburbs less attractive and so people quit moving there.
Put another way, cheap gas made living in Howell economically attractive, which caused more people to move to Howell, resulting in increased demand for gas because of the longer commute. The increased demand for gas led to less supplies and more expensive prices, which is making living in Howell less economically attractive.
Maybe the housing bubble begins with cheap gas and ends with expensive gas. I can imagine that buying in an outlying area like Manchester or Brick and commuting to NYC every day made economic sense in 2002 or 2003 when gas was cheap. Maybe, too, as these places attracted more people who made the long commute to NYC each day, demand for gas grew each year and supplies fell, resulting in the higher prices we have today. The high gas prices now make living in outlying suburbs less attractive and so people quit moving there.
Put another way, cheap gas made living in Howell economically attractive, which caused more people to move to Howell, resulting in increased demand for gas because of the longer commute. The increased demand for gas led to less supplies and more expensive prices, which is making living in Howell less economically attractive.
posted by Little_Silvered at 6:25 PM
3 Comments:
this is grat news for home sellers with the increase in ridership there most certainly will be an increase in home buyers too!
NJ Transit is a sad pathetic joke & is of no use whatsoever to anyone not going to NYC.
If you work in NYC & will be commuting, then I'd agree that Howell makes no sense, gas prices nonwithstanding. The mass transit option is a viable one for NY commuters, but not practical for anyone else, really.
Just re: Howell specifically, I know there are areas there that tend to be more affordable than some other areas in Monmouth and those of more modest means would naturally be that much more impacted by rising gasoline costs.
But to use the train or the bus, you have to be going where they're going and live near where they stop. If not, you have to drive at least as far as the nearest stop. So very, very NJ, isn't it?
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